Welcome To Insurance

The existence and success of companies using insurance agents is likely due to the availability of improved and personalised services. Companies also use Broking firms, Banks and other corporate entities (like Self Help Groups, Microfinance Institutions, NGOs, etc.) to market their products. By the late 19th century governments began to initiate national insurance programs against sickness and old age. Germany built on a tradition of welfare programs in Prussia and Saxony that began as early as in the 1840s. In the 1880s Chancellor Otto von Bismarck introduced old age pensions, accident insurance and medical care that formed the basis for Germany's welfare state. In Britain more extensive legislation was introduced by the Liberal government in the 1911 National Insurance Act.

Insurance is a legal agreement between a policyholder and an insurance company wherein the latter promises to compensate the former in the event of a loss. The covered event is contingent in nature as it may or may not occur. Thus, an insurance policy keeps the policyholder shielded against such contingent events which may result in a loss.

Insurance Consultants

Auto insurance coverages are priced individually to let you customize coverage amounts to suit your exact needs and budget. Surrender the cash value policy at any time and obtain underlying amount of the insurance policy. Some of us may believe that we have enough money to replace our assets should anything happen to them.

What Are The Key Exclusions Of This Policy?

In recent years, a number of insurance companies have become insolvent, leaving their policyholders with no coverage (or coverage only from a government-backed insurance pool or other arrangement with less attractive payouts for losses). A number of independent rating agencies provide information and rate the financial viability of insurance companies. Marine insurance and marine cargo insurance cover the loss or damage of vessels at sea or on inland waterways, and of cargo in transit, regardless of the method of transit.

The company will determine the likelihood of the occurrence of a loss and estimate the amount of the loss. These will be used to determine the level of premium you have to pay, and to see if you qualify for an insurance policy in the first place. This process may require an examination of your driving history, credit history, health records, etc. depending on the type of policy you are purchasing. Once you have qualified for insurance and your policy features – premiums, payment schedule, and terms of payment are finalized- a policy contract will be prepared under your name.

The insurance that your society provides may offer you a limited cover and generally includes only structure and not contents. You should buy home content insurance cover for your belongings if the building structure of your house is insured by the society. Insurers use risk data to calculate the likelihood of the event you are insuring against happening.